Many top players, such as Google (NASDAQ: GOOG), Yahoo! (NASDAQ: YHOO), and Microsoft (NASDAQ: MSFT), want to get a piece of the local online sector. But it hasn't been easy.
There are a myriad of smaller players trying to get an edge as well. One up and comer is Yodle, which recently announced that it has raised $12 million in venture capital. The investors include Draper Fisher Jurvetson and Bessemer Venture Partners.
Yodle offers a platform that allows small businesses to purchase local online ads. Keep in mind that roughly 63% of consumers now use the internet to search for local businesses.
So what makes Yodle different? Well, the company has made it possible to measure the return on investment for ad campaigns. For small businesses, this is certainly a big deal. For example, Yodle claims that a $1 ad spend can result in an $8 return.
If true, I can see why a small business wouldn't pass on this kind of thing.
Interested in more cool venture capital deals? Visit DealProfiles.com.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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